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A British firm will control Libyan oil field company October 7, 2011

Posted by mytruthaboutoil in Geostrategy.
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British company Heritage Oil PLC said Tuesday that it has acquired a controlling interest in a Libyan company licensed to provide oil field services including offshore and land-based drilling.

Heritage said it paid $19.5 million for a 51 percent stake in Sahara Oil Services Holdings Ltd. Heritage said the acquisition will allow it to play a significant role in Libya’s oil and gas industry.

Sahara Oil Services was established in 2009 and is based in Benghazi.

Heritage established a base in Benghazi this year and has been dealing with senior members of the National Transitional Council, the company said.

Richard Griffith, analyst at Evolution Securities, said the move “could prove to be a very shrewd investment” by the company.

Heritage Oil shares, however, were down 2.9 percent at 217.8 pence in early trading on the London Stock Exchange.

The company’s CEO Tony Buckingham said they are “well placed to play a significant role in the future oil and gas industry in Libya.”

“This acquisition is consistent with Heritage’s first mover strategy of entering regions with vast hydrocarbon wealth where we have a strategic advantage,” Buckingham said.

Heritage has exploration projects in the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali, and a producing property in Russia.

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War in Georgia: a war for oil ? (2) December 28, 2008

Posted by mytruthaboutoil in Geostrategy, Oil (general).
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PART 2

and I believe it is the key point of this war- that Georgia is actually one of the only route to export oil extracted from the Caspian sea (see map) to western countries, and the only one which is not directly controlled by Russia.

However, we have hardly heard in the mainstream medias

About 1,6 million barrels of oil transit every day across Georgia, notably through the BTC pipeline which goes from Azerbaijan to Turkey. The volumes transiting through Georgia should at least double in 2010 (between 3 and 6 million barrels a day).

Keeping this fact in mind, it is also notoriously known that the Georgian president Mikhail Saakachvili, who was elected in 2004, is definitely pro-West and anti-Russia.

 

Since his election, most of the Western oil majors have therefore decided to invest in Georgia in order to bypass Russia regarding the trading of Caspian oil.

Before the war, Georgia was considered as a key element of the “East-West energetic corridor

“, the purpose of which was to export the Caspian oil without Russian assistance.

 

The control of the Caspian oil transit sounds to me (and to many people in the oil sector) as a reliable perspective to understand why Russia launched such a massive operation and was ready to pay a heavy diplomatic price for it.

That would explain why the Russian army has systematically bombed oil storage and transit facilities, notably the BTC pipeline.

Russia can not afford to lose such a geopolitic asset as the Caspian oil. Putin was ready to launch a war for it.

But are we so sure Bush did not have the same type of thinking when he decided to free Iraq? We might talk about it in another post.